What's an Advisory Board?
An advisory board is NOT a board of directors.
Your advisory board members must be people who:
- Keep your proprietary secrets
- Call you out on your BS (kindly, encouragingly, and respectfully)
- Help you get unstuck and
- Guide you from a place of truly caring about your well-being and the success of your company.
It may be created from your inner circle of your most qualified friends and close connections or it may be people you aren’t close to but who stand out as trustworthy, caring, experienced, and wise in the areas you need. This can be a formal, paid arrangement or it can be less structured.
What’s critical is that you have the right people answering the questions on your mind at pivotal moments in your business growth journey.
You will likely need outside perspectives from:
1. People who understand buyers in your market.
2. People who can help you think through negotiations and people management.
3. People who understand business finance, strategy and have personal experience in the zero to success startup space.
4. People who have connections to people you need to be connected to for your business.